Tag: online business

Double Your Online Business with an OTO

OK as a going guys, Zach Miller here, and today I just want to talk about a very simple concept that comes up a lot in online business – how to leverage. A lot of us out there are probably selling products, but here’s the thing, we’re probably not asking people immediately after they purchase, if they’d like to purchase more things from us, which you may think is actually counter intuitive, right? you’re not often times by your own product, you don’t find yourself in that mode of that buy, so what we don’t realize is that there is a portion of our audience that wants more from us especially, if that thing will enhance double the speed, whatever it is, take that next step towards that goal that desired result that you’re giving them, you know whether you’re cleaning floors, repairing a home or delivering a marketing system to someone, it’s all the same step process, you start off with delivering a lot of value for a low price, and then you start naturally building off from there.

Now, but I’ve often found is that… when we start off on line, we usually start off with just one idea, one product we think this is it, I only need one idea to make a million dollars, and often I found that thought process is a little bit of fallacy in the sense that… it’s not really just one thing, but it’s actually a multitude of things like I talk about, that’s why we have with I call, a value ladder. That’s where you have something that’s on the front end you have a middle value, and then you have your back end right here, and all of these things again, it’s just going value versus price, so you’re sending that relationship naturally, because no one’s going to start off right here, right what they’re usually going to do is you can consider this time right? so over time, people are naturally going to invest more, they’re going to see the value, and they’re going to invest more, be able to pay more at that price, and as you do you’ll eventually reach that desired result.

So, along this path, there’s a lot of little things especially on the front end those first-time buyers, those are what I often consider the perfect place right here, to identify what’s considered hyper buyers, and hyper buyers what they do? you still come here, and they’ll just simply say.. all right you know you bought this one object, and now what I want to offer you is kind of that next step you know, not that this thing right here, that you bought…not that if you didn’t buy this, that’s ok. This will still work you know, this is still good. But, even if you did buy this, than what it’s probably going to do, so it’s either going to you know, double the speed, it’s going to double your results, it’s going to you know, allow you to do something in half the time, or you know whatever it is, there’s something that that next step that you’re adding, for your buyers, and that’s what we call an OTO (one time offer) and that’s an up sell, so maybe a charge you know, seven dollars here and then guess what you can charge all the way up to you know ninety-seven, one hundred ninety-seven you take this over here, and you can do this.

What I suggest up to two times, and from there, you can you know, charge one ninety-seven, ninety-seven to ninety-seven, all the way up to even a thousand dollars, for these up cells depending on the value, you can even sell certain objects up to five thousand dollars, if you’re within certain industries or niches, that’s just kind of a normal you know modern price for you, for these types of up sells.

So again, these up sells can go from something very small, something very big, very quickly. it’s just trying to get that initial credit card. in hand, you know you want them to check out, to make the purchase, yes right here, they make the purchase right, they fill in all of this little information you know, once they do, now they have their information especially, when you use click funnels, then you’re going to actually be able to keep that same information, they will have to re-enter in all these details again over on this page, over here, it’ll now actually transfer over, all they have to do, is click this one button, if they click that button right, there then boom with one click that’s added charge their card they get that instant access. So what you know as OTO’s (one-time offers) are extremely important because you’re taking someone who may have initially had you know, seven twenty, seven, seven or ninety-seven dollar value, and now twenty percent of these people they end up buying and then say… fifteen percent of the people end up buying this again from here, you’re and you’re going to double almost sometimes you know triple, the amount or the value that each buyer has to you up for an initially, and that’s not even including the lifetime customer value, or lifetime client value, which can be astronomical sometimes you know, like if you have your whole value ladder set up, they can be upwards of up to a thousand dollars per customer, in their lifetime.

Again we’re talking about building relationships for a long time, the best way to do that is to offer your buyers their next step of what to purchase right away, you’d be surprised how many are actually willing to go there and do that with you, with that being said… I’m Zach Miller and I wish you best success bye.

“What do you do for a living?” God, I used to hate hearing that when I met new people!

I would internally cringe at the question. By 2015, I really hated my job. Sure, I worked an online job from home. Yeah, it paid the bills (barely). And sure, I got to go to work in my PJ’s but I wasn’t fulfilled in the freelance work that I was doing. I felt stuck, un-able scale up and it began to take it’s toll on me mentally, socially and even physically. That was businessmistake #1 – doing a job I really didn’t wantto do.

My breaking point was the year I signed $125,000 in SEO clients – and by the end of the year, all I got out of it was $25,000! We’re talking legally-binding SIGNED CONTRACTS! – can you imagine going from having the best year of sales of your life, to barley scraping by? It felt as though that entire year I was kicking myself going – “if only these bastards would pay up!” I took most of them to court – but a lot of them were dead-beats. Not even worth the time it took me to get them to court.

I was bringing in money but not a lot – enough to get by. And my wife and I were working way too hard, working 50-60, sometimes 70 hour weeks – bending over backwards for clients who were scamming us out of our money! I hated my clients, my job and life in general! Mistake #2 – getting paid less than your worth. It was like a bad twilight episode (ya know, the one where the client scam over the SEO company – instead of the other way around).

After sitting down with my wife and talking about what we could do better – she said “that’s easy – we’re not focused on doing just ONE THING”

That was mistake #3 – We weren’t focused on just ONE THING. We had to get focused. I needed to decide what my purpose in life was going to be. What niche did I really want to be in? What audience was I truly looking to serve? Did I really want to be an “SEO guy” for the next 20 years? At the time, I had my hand in 4 or more business projects – 2 of them were making over $500 a month and the other two about $500 combined. “Money is money” I used to say – but I’ve stopped using that expression because money will come to you in the form that you accept – remember that! When I was desperate – I attracted desperate unqualified customers. Just like in physics – like attracts like – always!

As humans we need focus because focus creates momentum and power. When our brains have to switch activities it interrupts our momentum and this is called ‘stress’. The more tasks we engage in at a time, the more stressed and un-focused we become. When we’re overly stressed or committed to too many things and continue to keep going – often times we quickly grown tired or feel unmotivated to even start an activity. (While there is a chemical change called cortisol production, happening in the body) I am using this opportunity to show you how closely our thoughts, actions and behaviors are all intertwined. Things like a cluttered work environment, a list of unfinished business projects or continual discussions of ‘a great new business idea’ are all symptoms of unfocused people.

Mistake #4 – at first, I didn’t know what I wanted. If focus creates power, what creates focus? Questions help us define & control our focus. Questions like these will help you better narrow down what type of career you should dive into and what jobs to stay clear of:

“What would you do if you knew you couldn’t fail?”

“what are you passionate about?”

“What things do you enjoy doing?”

“What tasks do you want to do on a daily basis?”

“what are tasks you never want to do?”

“where do you want to work?” (indoors, outdoors, office, from home?, traveling?)

“where do you see yourself in 5, 10, 20 years from now?”

“What are your financial goals (monthly, yearly, lifetime)?”

If you haven’t done so already, write down & answer these for yourself right now.

Finally – What is the first step/task you need to do to accomplish your monthly financial goal? Leave it in the comment section below!

p.s. if I had to add a Mistake#5 – I got into debt because I wasn’t focused.I can speak from personal experience when I say having debt limits your options. Limited is exactly how I felt at age 24 when I had maxed out all 3 of my credit cards and had over $15,000 in personal debt.

If you’ve ever been significantly in debt, you’ll find there’s very little wiggly room for personal spending or investing to grow your business. Financial burdens also have a tendency to bring social and relationship strain as well as a host of other problems like lowering your credit score. *In a nutshell, do everything you can to maintain a budget, and stay in the green at the end of each month and if you can, make depositing into your saving account a habit as you’re able.